Rusal and Ghana Agree to Develop Major Bauxite and Alumina Projects

Russian aluminium producer Rusal has reached an agreement with Ghana’s state-owned Ghana Integrated Aluminium Development Corporation (GIADEC) to jointly develop bauxite mining and alumina processing projects, targeting one of West Africa’s largest deposits.

Announced during a summit between Russian President Vladimir Putin and African leaders in Moscow on Thursday, 29 October 2026, the agreement will be implemented through two joint ventures in which Rusal will hold majority stakes.

The proposed developments include a bauxite mining operation with annual production capacity of up to 5 million tonnes and the construction of an alumina refinery capable of processing 1.2 million tonnes annually.

The projects will focus on the Nyinahin deposit in southwestern Ghana, where estimated bauxite resources exceed 100 million tonnes.

Rusal, the world’s largest aluminium producer outside China, has been seeking to strengthen control over its alumina supplies following disruptions in 2022, when it lost approximately 40% of its supplies from Ukraine and Australia. Alumina is a key raw material used in aluminium production.

The company already has significant operations across Africa, including bauxite mines and alumina production facilities in neighbouring Guinea. In 2025, Rusal produced 6.858 million tonnes of alumina, representing 4.7% of global production and covering approximately 85% of its alumina requirements.

Ghana previously cancelled a $1.2 billion lease agreement with local company Rocksure International in 2025 as it sought a foreign investment partner to develop the Nyinahin deposit.

GIADEC Chief Executive Officer Reindorf Twumasi Ankrah said the agreement supports Ghana’s ambition to establish a fully integrated domestic aluminium industry, enabling the country to process its own bauxite rather than relying primarily on exports of unprocessed minerals.

He added that the developments are expected to attract investment, create thousands of jobs and support improvements to Ghana’s rail and port infrastructure.

The proposed partnership represents a significant step in Ghana’s efforts to expand its mineral processing capacity and strengthen its position in the global aluminium value chain.

Source: Reuters

(Image: Ghana Integrated Aluminium Development Corporation.)